Crypto Rover, a prominent cryptocurrency analyst, has shed light on the rapidly decreasing availability of Bitcoin on major exchanges over the past 30 days. According to the data, Binance witnessed a significant decrease of 11,500 BTC, while Coinbase reported a decrease of 1,100 BTC.
Other exchanges collectively saw a decrease of 3,500 Bitcoins. The big question on everyone’s mind is: who is behind these substantial purchases, with speculations swirling around BlackRock?
Analyst Crypto Simon chimed in on this matter, suggesting that while BlackRock is a potential buyer, it could also be other institutional investors or individual holders looking to diversify their portfolios. The mystery surrounding the buyer’s identity adds an element of intrigue to the ever-evolving cryptocurrency market. Speculations are rife, with mentions of Microstrategy, China, and BlackRock circulating in the community.
In a subsequent tweet, Crypto Rover shared some compelling reasons for the excitement surrounding the upcoming BTC bull run. With only 1.83 million BTC available on exchanges, the introduction of a Bitcoin spot ETF, the impending Bitcoin halving, and potential rate cuts and quantitative easing measures from The Fed, the stage seems set for an exhilarating ride in the world of cryptocurrencies.
Bitcoin’s Trajectory: 2022 To 2025
Rover also provided insights into BTC’s trajectory in the coming years. In 2022 and 2023, factors like global conflicts, interest rate hikes, crashes in other cryptocurrencies, SEC-related uncertainties, and the Evergrande bankruptcy are expected to impact Bitcoin’s performance. Looking ahead to 2024 and 2025, a spot ETF introduction, further rate cuts, quantitative easing, and another Bitcoin halving are on the horizon.
However, technical analyst Cryptorphic delved into the Bitcoin halving roadmap in a separate tweet. Noting previous halvings in 2012, 2016, and 2020, Cryptorphic projected the next halving to occur around April 25, 2024, and estimated it could last 478 to 512 days.
Based on fractals and chart data, Cryptorphic predicted that BTC’s next bull market peak would likely be in September 2025, with a target price of approximately $115,123—a remarkable 330% increase from the current market price.